The Lead

Are developers worried that they might be adding too many apartment units to the city of Chicago? Construction activity here would suggest not, and so does the latest multifamily research report from Marcus & Millichap.

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Even as a national retail association predicts a strong holiday shopping season, another retailer is turning to the protection of bankruptcy, a move that will result in the closing of six of its Illinois locations.

Amazon continues to make a push in urban areas, building distribution facilities across the Midwest in the hopes of delivering their products ever faster to their customers. But not only is Amazon boosting the industrial markets across the country, it’s also creating an unusual spill-over effect.

Avison Young has completed the sale of a 451,215-square-foot, two-building industrial portfolio in the Columbus, Ohio, market. Both buildings are leased to strong corporate tenants with businesses that rely on the location and the region’s distribution network.

After acquiring a 2.35-million-square-foot industrial portfolio in Chicago earlier this year, Dallas-based Westmount Realty Capital, a commercial real estate development and investment company, has sold one of its Chicago holdings. The 310,775-square-foot warehouse and distribution facility near Midway Airport was acquired by High Street Realty Company.

Maverick Commercial Mortgage, a Chicago-based commercial mortgage banking firm, arranged both bridge and subsequent permanent financing in the amount of $5.4 million at a 10-year fixed rate from a national lender for JWW Robinland, LLC. The investment property, Ravinia Estates, is a 217-site 74-acre mobile home park located at 1103 Robindale Drive in Fenton, Missouri.

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